Tax Drill - General Business Credit Carryovers Corley has the following general business credit carryovers: 2020: $12,000 2021: $9,000 2022: $14,000 In 2023, his total general business credit is $55,000 and the total credit allowed in 2023 (based on tax liability) is $70,000. What is the amount of the general business credit carryover (by year) to 2024? If an amount is zero, enter "0". 2020 carryover to 2024: $fill in the blank 1 12,000 2021 carryover to 2024: $fill in the blank 2 3,000 2022 carryover to 2024: $fill in the blank 3 0 2023 carryover to 2024: $fill in the blank 4 0
Tax Drill - General Business Credit Carryovers Corley has the following general business credit carryovers: 2020: $12,000 2021: $9,000 2022: $14,000 In 2023, his total general business credit is $55,000 and the total credit allowed in 2023 (based on tax liability) is $70,000. What is the amount of the general business credit carryover (by year) to 2024? If an amount is zero, enter "0". 2020 carryover to 2024: $fill in the blank 1 12,000 2021 carryover to 2024: $fill in the blank 2 3,000 2022 carryover to 2024: $fill in the blank 3 0 2023 carryover to 2024: $fill in the blank 4 0
Chapter13: Tax Credits And Payment Procedures
Section: Chapter Questions
Problem 25P: LO.2 Oak Corporation has the following general business credit carryovers. If the general business...
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Tax Drill - General Business Credit Carryovers Corley has the following general business credit carryovers: 2020: $12,000 2021: $9,000 2022: $14,000 In 2023, his total general business credit is $55,000 and the total credit allowed in 2023 (based on tax liability) is $70,000. What is the amount of the general business credit carryover (by year) to 2024? If an amount is zero, enter "0". 2020 carryover to 2024: $fill in the blank 1 12,000 2021 carryover to 2024: $fill in the blank 2 3,000 2022 carryover to 2024: $fill in the blank 3 0 2023 carryover to 2024: $fill in the blank 4 0
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